The sudden surge in land prices in many areas today is mainly due to speculation about which localities will become centers when administrative units are merged. The possibility of land speculators manipulating prices and creating artificial price surges cannot be ruled out either.
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| Illustration photo: vnexpress.net |
Real estate experts argue that current land prices do not accurately reflect the true market value. The true market value of real estate should be based on the actual needs of residents, sellers, buyers, and land-using agencies and organizations, especially considering location, legal status, infrastructure, planning, amenities, and the economic , cultural, and social development of the locality. Because land prices are rising erratically, there is no clear reference point, and few actual transactions have been recorded.
Following warnings from authorities and experts, buyers need to be very cautious and thoroughly research information to avoid getting caught in the cycle of soaring prices followed by stagnation, with their money "buried" in the land. In reality, most people who buy land during periods of unusually high prices do not buy it for residential purposes but for speculative profit, thus carrying significant risks.
Land speculation bubbles, not driven by the true market value of land, have caused many people to lose everything. The painful lesson remains relevant, but the high profits generated by short-term speculation are sometimes too quick, causing many to remain complacent in the "land fever."
NGUYEN TUAN
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Source: https://baodaknong.vn/dung-mo-trong-con-sot-dat-247493.html
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